Hi Alex,As for conventional cash out refinance, assuming you will use full documented programs, your rates and terms will be largely dependent on your credit, income, DTI and equity.

I like the strong position taken.

I may invest the amount in stock equity or Sacramento / Clovis / NC real estate.I'm torn on what to do.

For a $450,000 property with a 6.625% interest rate, the principal reduction over 5 years can be calculated using an amortization formula, revealing a significant amount of equity built through loan paydown alone.Take a look at the table below.

I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation.

This would be using sweat equity to learn the business.Another approach if you find the deal is to charge him an assignment fee for finding the deal.  

I'm trying to learn more about capital gains tax when selling a rehabbed home or refinancing for the equity.

Ultimately I would like to put what I would pay in rent into equity, as well as have the freedom to move and house hack another property after 2-5 years.

Start with a smaller property and gradually scale up your portfolio over time to build equity and minimize risk.

The border income that you listed is only required when purchasing a primary residence, you can't use the roommate tenants , even with existing leases to help qualify for the mortgage.If you are buying it as a investment property, you just need to record it on your tax return for 2024 tax return and in 2025, when you file your taxes, you will be able to count it positively for your debt to income ratio.